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University of Florida football programs are printed 1 week prior to each home game. Attendance averages...
University of Florida football programs are printed 1 week prior to each home game. Attendance averages 60,000 screaming and loyal Gators fans, of whom two-thirds usually buy the program, following a normal distribution, for $4 each. Unsold programs are sent to a recycling center that pays only 10 cents per program. The standard deviation is 5,000 programs, and the cost to print each program is $2. Refer to the standard normal table for z values.
(a) What is the cost of underestimating demand for each program?
(b) What is the overage cost per program?
(c) How many programs should be ordered per game?
(d) What is the stockout risk for this order size?
Solutions
Amanda K answered 2 years agoRelated Solutions
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Each week coaches in a certain football league face a decision
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Case Study Forecasting Attendance at SWU Football Games Southwestern University (SWU), a large state college in...
Case Study Forecasting Attendance at SWU Football Games
Southwestern University (SWU), a large state college in
Stephenville, Texas, 30 miles southwest of the Dallas/Fort Worth
metroplex, enrolls close to 20,000 students. In a typical town–gown
relationship, the school is a dominant force in the small city,
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The National Football League (NFL) polls fans to develop a rating for each football game. Each...
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a. Develop a point estimate of mean fan rating for the
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b. Develop a point estimate of the standard deviation for the...
The National Football League (NFL) polls fans to develop a rating for each football game. Each...
The National Football League (NFL) polls fans to develop a
rating for each football game. Each game is rated on a scale from 0
(forgettable) to 100 (memorable). The fan ratings for a random
sample of 12 games follow.
57
62
87
73
72
72
20
56
79
78
83
73
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The home attendance (in millions) for a number of years is shown in
the table below.
21)
Year
Home Attendance (millions)
1978
40.6
1979
43.5
1980
43.0
1981
26.6
1982
44.6
1983
46.3
1984
48.7
1985
49.0
1986
50.5
1987
51.8
1988
53.2
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Describe what you...
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h....
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(a)
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the 902 females (group 1) that responded, 489 said yes.
(Males - Females)
Find the point...
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